"One thing we learned from DeepSeek is that open-sourcing the best models can greatly help adoption," said Baidu's Robin Li.

Chinese search engine group Baidu , said on Tuesday that the success of AI company DeepSeek had inspired it to embrace an open source model, under which the source code of its upcoming generative AI chatbot release will be publicly available.

Chinese search engine giant Baidu reported a 2% drop in quarterly revenue, dragged down by a slowdown in the advertising business, though offset by gains from cloud AI. For the three months through December,

Shares of Baidu, Inc. (BIDU) slipped in Tuesday’s premarket session despite the Chinese search engine’s forecast-beating fiscal year 2024 fourth-quarter results. The negative stock reaction may have been due to weak advertising revenue.

Baidu CEO Robin Li said 2024 was a transformational year as the company pivots to AI, where it faces fresh competition from start-up DeepSeek.

Baidu stock fell Tuesday after the Chinese internet search giant reported fourth quarter results that beat but saw sales slow.

Baidu stock was falling on Tuesday after a slowdown in advertising spending dragged down the Chinese search-engine provider’s quarterly revenue. American depositary receipts slipped 2.4% to $95.19 in premarket trading.

Chinese internet search giant Baidu (NASDAQ:BIDU) reported a hat trick of advertising revenue declines on Tuesday, which stole the spotlight from its decent top and bottom line beat in its fourth quarter earnings report.